In a landmark economic move, Ukraine and the United States have signed a rare earth minerals partnership agreement that President Volodymyr Zelenskyy described as a “truly equal partnership” aimed at long-term development and industrial revitalisation of Ukraine.
The agreement, signed after weeks of tense negotiations, gives the US access to Ukraine’s rare earth mineral reserves, while establishing a Reconstruction Fund focused on investment without debt.
Sharing the announcement on X, Zelenskyy noted:
“The agreement foresees no debt. It establishes a Reconstruction Fund that will invest in Ukraine and generate returns in Ukraine. This means joint work with America, based on fair terms… allowing both Ukraine and the US to make money in partnership.”
The Ukrainian President confirmed that the Verkhovna Rada will soon consider the agreement for ratification, adding that any delays would not be in Ukraine’s interest. The deal also provides for the modernisation of Ukrainian industry and legal systems, according to Zelenskyy.
Outcome of Historic Vatican Meeting
Zelenskyy revealed that the deal was a direct result of his recent meeting with US President Donald Trump in Vatican City, calling it a “historic” outcome:
“President Trump and I discussed our readiness to conclude this agreement during our Vatican meeting. This is the first tangible outcome of that meeting. I thank him and both our teams.”
The US Treasury Department confirmed the signing on Wednesday, with Treasury Secretary Scott Bessent stating:
“As the President has said, the United States is committed to helping facilitate the end of this cruel and senseless war.”
Deal Almost Collapsed Earlier
The deal had originally been slated for signing during Zelenskyy’s February visit to Washington, but was delayed after a contentious Oval Office meeting cut the trip short. Sources suggest disagreements over the fund’s governance and mineral access temporarily stalled talks.
Now signed, the agreement marks a new chapter in US-Ukraine economic cooperation, with both nations seeking to align strategic and commercial interests amid Ukraine’s ongoing war recovery efforts.